Calgary, Alberta--(Newsfile Corp. - May 14, 2026) - Hempalta Corp. (TSXV: HEMP) ("Hempalta" or the "Company") is pleased to announce that, further to shareholder approval obtained at the Company's annual general and special meeting held on May 8, 2026, the TSX Venture Exchange ("TSXV") has approved the Company's proposed name change from "Hempalta Corp." to "Next Phase Ventures Ltd." (the "Name Change").

The Name Change is expected to become effective at market open on Tuesday, May 19, 2026. At that time, the Company's common shares are expected to commence trading on the TSX-V under the new name "Next Phase Ventures Ltd." and under the new trading symbol "NPV".

Darren Bondar, President & CEO of the Company, stated: "This marks an important next chapter for the Company. The transition to Next Phase Ventures reflects a broader strategic vision focused on pursuing scalable business opportunities, leveraging public markets access, and creating long-term shareholder value. We are excited about the future and believe the new name better represents the direction we are heading as an organization."

No action is required by existing shareholders with respect to the Name Change. Existing share certificates of Hempalta Corp. will continue to represent common shares of the Company under the new name, Next Phase Ventures Ltd., and shareholders will not be required to exchange their existing certificates.

About Next Phase Ventures Ltd.
Next Phase Ventures Ltd. is a TSX Venture Exchange-listed company headquartered in Calgary, Alberta, focused on evaluating, developing, and operating businesses across emerging and evolving markets. The Company is focused on identifying strategic opportunities that leverage public markets access, operational experience, and scalable business platforms to support long-term shareholder value creation.

The Company continues to maintain interests in its existing operating subsidiaries, including Hempalta Processing and Hemp Carbon Standard ("HCS"), a nature-based carbon solutions platform supporting the development of high-integrity carbon credit programs utilizing industrial hemp and digital measurement, reporting, and verification frameworks aligned with ISO 14064-2 standards.

For more information, visit:
www.hempalta.com | www.hempcarbonstandard.org | www.trustedcarbon.org

Forward-Looking Statements
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the anticipated effective date of the Company's name change, the commencement of trading under the new name and trading symbol, the Company's strategic direction, the evaluation of future business opportunities, and the Company's ability to create long-term shareholder value.

Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including assumptions regarding regulatory approvals, TSX Venture Exchange processes, market conditions, financing availability, and the Company's future strategic initiatives and business plans.

Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, risks relating to regulatory approvals, capital markets conditions, financing risks, strategic transaction risks, changing business and economic conditions, and the Company's ability to successfully evaluate and execute future opportunities.

Readers are cautioned not to place undue reliance on forward-looking information. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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